Browse Tag: walmart

Is it time to put a halt on the recent wave of think pieces all across the web concerning the recent announcement that Amazon will acquire upscale grocer Whole Foods? Two research analysts at JPMorgan have identified a potential rival bidder: Walmart.

The potential bidding war comes with the stock price of the grocery chain edging higher than Amazon’s offer of $42 per share. The following CNBC video spells out the details that might arise with a competition for the 431-location, 91,000-employee grocery brand. Click below to view:

The Walmart Express pilot program explored the notion of Walmart opening small-footprint outlets to compete with neighborhood and small-town dollar stores. The strategy was assumed by many to be a no-brainer given the company’s record of trillions of revenue made on low-cost merchandise.

The closures, while significant, don’t exactly derail the retail juggernaut’s long-form tale of expansion. Over 200 stores are in the pipeline for opening in 2016, according to a company press release:

“Walmart will continue to invest in its future, with plans to open stores worldwide in the coming fiscal year. Domestically, Walmart intends to open 50 to 60 Supercenters and 85 to 95 Neighborhood Markets in Fiscal 2017, which begins Feb. 1. In the same period, Sam’s Club plans to open in seven to 10 new locations. Internationally, Walmart intends to open between 200 and 240 stores during the coming year.”

Workforce

In total, approximately 16,000 associates will be impacted by the decision, about 10,000 of them in the U.S. More than 95 percent of the closed stores in the U.S. are within 10 miles on average of another Walmart, and the hope is that these associates will be placed in nearby locations. Where that isn’t possible, the company will provide 60 days of pay and, if eligible, severance, as well as resume and interview skills training. Whether with Walmart or elsewhere, the company’s objective is to help all associates find their next job opportunity.

“The decision to close stores is difficult and we care about the associates who will be impacted,” McMillon said. “We invested considerable time assessing our stores and clubs and don’t take this lightly. We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well.”

While I’m not sure if this is better imagined as news about a national urbanization trend or news about Walmart’s relentless expansion into new urban territories, the fact remains that Washington, DC’s two newest Walmart stores are a little different from what we’re used to. Rather than massive stores anchoring shopping centers, they’re sub 100k sq. ft. layouts serving as anchors for new apartment buildings.

The discount giant’s two newest DC stores bring an announced 600 jobs total to the city, and one building at 77 H Street, sporting 303 apartments has already been marketed and sold to Clarion Partners for an undisclosed figure.

Take a look at a video of the interior of the 77 H Street store and take in the unusual sight of Walmart’s unmistakable interiors and branding at the reduced scale of an urban anchor store.

The stores are Walmart’s first in Washington DC. The Walmart at First and H street runs 76,000 sq. ft and sports two floors of parking below-grade Walmart will officially open its first DC stores in two weeks. The locations on Georgia Avenue, and First and H Street NW will open their doors at 8am on December 4.

The 76,000 square-foot Walmart at 77 H Street NW (pictured above) will anchor a 303-unit apartment project. This location will have two floors of below-grade parking.